Awesome, yeah I am in the situation that most of the work I do is located in Sydney, and the prices are insane there at the moment, I am hoping the bubble will pop and the prices will decrease, but I imagine that if that happens, they will bump up the amount needed for deposit. So other words I think the return on Sydney property diminishing at this point, at least that is what I have been observing. This is why I was considering getting co-investor or parents as I am not sure we would have the 20% deposit to even get something that is even semi decent.

Knowing that I am somewhat locked to Sydney, I had consider investing outside Sydney in the meantime, possibly do some refurb properties. Just from looking at the Sydney situation, (and I would need to do some numbers) that the cost of renting will potentially get my family a home that will work for us as a ‘family’. Where as purchasing in Sydney would potentially land us in debt up to our eyeballs, in a property not over suitable for a family. I am wanting to make sure we are not going to over capitalize on our first home purchase, and at the current state of property in Sydney I don’t see any way around it.

What are you thoughts on the Sydney market?